adidas (OTCMKTS:ADDYY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “Adidas is a leading brand in the sporting goods market with strong positions in footwear, apparel and hardware. Adidas products offer technological innovations and cutting-edge designs to athletes of all skill levels who aspire to achieve peak performance. The adidas brand is structured in three divisions: Forever Sport, Originals and adidas Equipment. “
Several other analysts also recently commented on the company. Robert W. Baird reduced their price objective on adidas from $205.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, November 10th. Wells Fargo & Co assumed coverage on adidas in a research note on Tuesday, November 7th. They set an “outperform” rating and a $220.00 price objective for the company. Pivotal Research reaffirmed a “hold” rating on shares of adidas in a research note on Monday, November 6th. Finally, Wedbush reissued a “neutral” rating on shares of adidas in a research note on Monday, October 23rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. adidas currently has an average rating of “Buy” and a consensus price target of $185.75.
adidas (OTCMKTS:ADDYY) last announced its earnings results on Thursday, November 9th. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.02. adidas had a return on equity of 20.96% and a net margin of 5.43%. research analysts anticipate that adidas will post 3.88 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC increased its stake in adidas by 6.0% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 310,794 shares of the company’s stock valued at $35,182,000 after purchasing an additional 17,631 shares in the last quarter. Pacer Advisors Inc. increased its stake in adidas by 37.4% in the 3rd quarter. Pacer Advisors Inc. now owns 4,751 shares of the company’s stock valued at $538,000 after purchasing an additional 1,294 shares in the last quarter. Wellington Shields & Co. LLC purchased a new position in adidas in the 3rd quarter valued at approximately $232,000. Wellington Shields Capital Management LLC acquired a new stake in adidas during the 3rd quarter valued at $226,000. Finally, Quadrant Capital Group LLC grew its holdings in adidas by 3.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,771 shares of the company’s stock valued at $144,000 after buying an additional 54 shares during the last quarter. 0.09% of the stock is owned by hedge funds and other institutional investors.
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adidas Company Profile
Adidas AG and its subsidiaries design, develop, produce and market a range of athletic and sports lifestyle products. The Company’s segments include Western Europe; North America; Greater China; Russia/CIS; Latin America; Japan; Middle East, South Korea, Southeast Asia/Pacific; TaylorMade-adidas Golf; Runtastic and Other centrally managed business.
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